Question about IRA account, and K-1 not related to MLP

Aug 30, 2015 1 Replies

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martin lynch 10 years ago

Hi, I am interested in purchasing "UGA" which is a gasoline futures ETF in my IRA. It does file a K-1 as opposed to a 1099.

Any tax implications I need to worry about? My understanding is the main (or only?) concern is if I receive $1,000+ in UBTI. I know that "UGA" either does not have any UBTI, or my position in it will be so small that any UBTI will be well south of $1,000.

Thanks

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Alan 10 years ago

The only issue I am aware of for a fund that is organized as a partnership (E.g., UGA), is that the fund can have profits that get passed through to you and there is no corresponding distribution of cash to help you pay the taxes.

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